Mawer Investment Management Ltd. Sells 6,307 Shares of Corpay, Inc. (NYSE:CPAY)

Mawer Investment Management Ltd. trimmed its position in Corpay, Inc. (NYSE:CPAY) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166,931 shares of the company’s stock after selling 6,307 shares during the period. Corpay makes up approximately 1.8% of Mawer Investment Management Ltd.’s investment portfolio, making the stock its 18th largest holding. Mawer Investment Management Ltd. owned 1.67% of Corpay worth $394,913,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Corpay during the third quarter worth $1,309,000. Brooklyn Investment Group acquired a new position in shares of Corpay during the 3rd quarter worth about $48,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Corpay by 3.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,669 shares of the company’s stock valued at $3,962,000 after acquiring an additional 429 shares in the last quarter. Fiduciary Trust Co increased its position in shares of Corpay by 46.9% in the third quarter. Fiduciary Trust Co now owns 1,472 shares of the company’s stock valued at $460,000 after acquiring an additional 470 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Corpay by 13.4% during the third quarter. Public Sector Pension Investment Board now owns 3,391 shares of the company’s stock worth $1,061,000 after acquiring an additional 400 shares in the last quarter. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard Macchia sold 2,427 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $375.23, for a total transaction of $910,683.21. Following the sale, the director now directly owns 12,215 shares of the company’s stock, valued at approximately $4,583,434.45. This represents a 16.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is owned by company insiders.

Corpay Stock Performance

Shares of NYSE CPAY opened at $346.79 on Friday. Corpay, Inc. has a one year low of $247.10 and a one year high of $400.81. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.00 and a quick ratio of 1.05. The firm has a market cap of $24.36 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 1.32 and a beta of 1.25. The stock’s fifty day moving average price is $363.75 and its two-hundred day moving average price is $351.85.

Corpay (NYSE:CPAY) last released its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 EPS for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a net margin of 25.25% and a return on equity of 41.46%. On average, equities analysts forecast that Corpay, Inc. will post 19.76 EPS for the current year.

Analysts Set New Price Targets

CPAY has been the topic of several recent analyst reports. Keefe, Bruyette & Woods boosted their price target on Corpay from $415.00 to $445.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Wolfe Research raised shares of Corpay from a “peer perform” rating to an “outperform” rating and set a $420.00 price target on the stock in a research report on Wednesday, January 8th. Citigroup assumed coverage on shares of Corpay in a research report on Tuesday, January 14th. They issued a “buy” rating and a $430.00 price objective for the company. Morgan Stanley upped their target price on shares of Corpay from $350.00 to $380.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company raised their target price on shares of Corpay from $340.00 to $375.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $399.71.

Corpay Company Profile

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.